GCC successful economic grouping – Qatar Min.

DOHA, May 22 (KUNA) — The Gulf Cooperation Council (GCC) is one of the most successful economic groupings in the region, Minister of Economy and Commerce Sheikh Ahmad Al-Thani has said.The bloc is an active grouping that has attained great positive results and delivered a unique economic experience, the minister on Sunday told the third plenary session on “global economy” held as part of the 16th Doha Forum, May 21-23.Qatar and fellow GCC member states have clear visions for economic transformation and sustainable development, he said.He pointed to some of the bloc’s economic achievements, such as completing the GCC Customs Union. In addition, the GCC Common Market is in its final phases.He also referred to several joint initiatives to for the development of the GCC economy.The GCC economies are complementing each other, he said.The GCC leaders have put forward clear visions for the bloc’s economic development, adding that ‘there is a clear agenda and we’re working on as much as possible to progress within the framework of the GCC system as a strategic inescapable choice.” The minister said that the decline in oil prices have a significant impact on the global economy and not only on the exporting countries. (pickup previous) nnd.msa